IFCI Ltd. - Company Details
SA and SG write Pseudosocial. This is an conversation they had today in the afternoon.
Please read. A very good example on how are people moved by greed and are blinded by lure of quick gains.
**** refers to names that we dint want to disclose.
SG: market 18k ho gayi?
SA: kya lena hai?
SA: :) woh to leh hi raha hoon. uske alawa aur kya lena hai. IFCI ki bid kitne par hai?
SG: maloom nahin. lekin log bol rahe hai 200 ho jaaega.
SA: :) yeh log kaun hai?
SG: pata nahi. main soch raha hoon ki 100 ho to bech doon :D
SA: who is log? :)
SG: random people yaar
SA: abe mein soch raha hoon 15-20% return mile to bech doo. Kher aur kya lena hai?
SG: maloom nahin. IGL dekh raha tha main. maza nahin aaya
SA: IGL kaun hai? indraprastha gas?
SA: Ok. IFCI aur kitna girega? Mujhe lowest pe lena hia :)
SG: mera lowest **** hai !
SG: Abhi kitna hai? Mera nse nahin khul raha.
SG: 77 fuk .. ?
SA: :). Aur kitna girega?
SG: maloom nahin. Lekin itna to nahin girna chahiye yaar
SA: mujhe lowest pe lena hai
SG: it should not go below 85. Ruk lemme see. Koi news aayi hai kya?
SA: haan thoda overreaction hai shayad
SG: 85 pay sab logon nay bid kiya hai
SA: (log bol rahe hai) minimum bid is for 120
SG: yaar mujhe 85 maloom hai kyonki it was documented in paper. Agar 77 hai to khareed sakte hain 500 share!
SA: 85 kisne document kiya tha? Or rather which document?
SG: 85 pay **** nay akhbaar main bola tha
SA: oh ok
SG: paper main tha ki they have given open offer to acquire at 85. Uskay baad hi IFCI wale so kay uthe aur bid ki naubat aayi
SA: **** ne hi bola hai minimum bid for 120
SG: ok ok. 77 pay hai to khareedna shuru kar sakte hain thoda thoda but don’t know the bottom. Lekin margin of safety nahin hai
SA: **** ke "untrustworthy" sources ne. But at 77 it is a buy for around 10 - 15 %
SG: abey FnO main we can go for killing
SA: it is banned in FnO
SG: aaj neeche hai, kal badega, tereko maloom hain FnO kaise khelte hain?
SA: jaise jua khelte hai waise hi fno khelte hai
SG: haan lekin mere ko fno nahin maloom. jua maloom hai.
SA: horse racing jaise khelte hia, koi ghoda acha laga to paise laga
SG: lekin yaar yeh news based hai
SA: jeeta to sahi nahi to bhi sahi. What is the news?
SG: matlab news aaegi to 10% upper and bad news aayi to 10% lower
SA: IFCI ka stake kiske pass hai? GOI? Who is selling stake?
SG: IFCI itself it selling stake
SA: ok. To who all? Pvt. Companies? Oh fuck it is 75 now
SG: http://www.IFCIltd.com/shholdpattern.pdf and IFCI kay liye moja sey pooch ki story ya hai
SA: I am not sure I have just put some money in IFCI. Fingers can be burnt here but lets see i have just bought 200 shares
SG: greed @ play!!
SA: :) :) a lesson can be learnt
SG: saale. Greed hai aur kuch nahin hai. Sun TFCI dekh. That can be bought for long term
SA: tourism finance corp
SG: ye IFCI type hai. I saw it at 10 bucks and now its 30
SG: may main 10 ka tha and I think I told you about it also
SA: ya I want it lower than 30. It has gone up very quickly. IFCI should be sold at at least 90. That’s what I think. So I will buy more
SG: abey! Irrational exuberance!
SA: :) mujh pe model lag raha hai. But I will stick my neck out and buy more
SG: saale. I will post this conversation on blog!! and on lollapalooza
SA: ok no issues. but some parts should be removed. like references to some company names as done earlier
SG: hehe. I will remove things that I think should be removed and maine bhi 100 khareed liye :). ab meri IFCI holding *** shares ho gayi
SG: saale tune model laga diya. achha khasa chup chap kaam kar raha tha main
SA: maine kya kiya
SG: lekin ab khareed liya hai to lite. mera average price 75 ho gaya
SA: 75 average price kaise ho sakta hai, jab lowest price *** rs hai
SG: I meant abhi ki purchase
SA: oh ok
SG: till yesterday my average price was **** including taxes
SA: :) mujhe kaam nahi hota hia to bahut bira hota hia :)
SG: seriously! 100 share khareed liye maine bhi
SA: maine bhi 250 share khareed liye
SG: 250 ?
SA: 200 pehle 50 baad mein. But all after we started chatting
SG: this will make an interesting post on blog!
SA::) I know
SG: I will post this after correcting spellings and removing names of people and companies
SA: yes companies definitely
SG: IFCI is now 79 :D
SA: let's sell :) but on a more serious note it should have gone down more I wanted to buy another 50
SG: sell kar dooon ?
SA: mein bhi wohi soch raha hoon
SG: this will be my first experience with intra day trading!!
SA: :) abhi mujhe thoda kaam bhi hai
SA: thodi der kaam karna padega
SG: you carry on. I will post about it on the blog after editing some parts of the conversation
Disclaimer: Both of us now have a stake in IFCI. Please be advised.
And this is a very good example of how NOT to invest.